Prestige Estates Projects Acquires 102 Acres to Boost Residential Real Estate
Prestige Estates Projects Ltd has acquired 102 acres of land in various cities to develop residential projects with a potential GDV of Rs 20,400 crore, marking a significant expansion in its real estate portfolio.
Real EstateLand AcquisitionResidential ProjectsPrestige Estates ProjectsProperty DevelopmentReal Estate MumbaiAug 09, 2025
Prestige Estates Projects, headquartered in Bengaluru, has been actively acquiring land parcels outright and forming partnerships with landowners to bolster its portfolio. According to the latest investor presentation, the company has secured land in key cities such as Bengaluru, Hyderabad, Chennai, and Mumbai.
In Hyderabad, Prestige Estates acquired two plots: 28 acres in Tellapur and 37 acres in Pulimamidi. These acquisitions will contribute significantly to the company's growth in the region. In Bengaluru, the company has secured three land parcels: 10 acres in Poojanahalli-Devanahalli, 7 acres in Kothanuru, KR Puram, and 10 acres in Ittangur, Sarjapura. These locations are strategic and well-connected, enhancing the company's ability to meet the growing demand for residential properties.
At Velachery in Chennai, Prestige acquired 3.48 acres, further diversifying its portfolio across South India. In Mumbai, the company secured 6.3 acres of land, marking its presence in one of India's most dynamic real estate markets.
The presentation did not disclose the cost of the land, but the acquisitions are expected to drive significant revenue and growth for the company. Prestige Estates Projects has a strong track record in the real estate sector, having delivered over 300 projects and currently having a pipeline of around 140 projects.
On the financial front, Prestige Estates Projects reported a 26% increase in its consolidated net profit to Rs 292.5 crore during the first quarter of this fiscal year, up from Rs 232.6 crore in the year-ago period. The total income rose to Rs 2,468.7 crore during the April-June period, from Rs 2,024.5 crore in the corresponding period of the previous year.
Last month, the company reported a four-fold jump in its sales bookings to Rs 12,126.4 crore in the first quarter of FY26, primarily driven by strong demand for its housing project in Ghaziabad. In the year-ago period, the company's sales bookings stood at Rs 3,029.5 crore. Despite a 19% decline in sales bookings to Rs 17,023.1 crore during the entire last fiscal year, reflecting the impact of deferred launches amid approval delays, the company remains optimistic.
Prestige Group has set a ambitious target of achieving Rs 27,000 crore worth of sales bookings during the current fiscal year. This target underscores the company's commitment to growth and its confidence in the market's potential. With a robust land bank and a strong financial performance, Prestige Estates Projects is well-positioned to achieve its goals and continue its expansion in the residential real estate sector.
Frequently Asked Questions
What is the total land area acquired by Prestige Estates Projects in the April-June quarter?
Prestige Estates Projects acquired a total of 102 acres of land in the April-June quarter.
In which cities did Prestige Estates Projects acquire land?
Prestige Estates Projects acquired land in Bengaluru, Hyderabad, Chennai, and Mumbai.
What is the estimated gross development value (GDV) of the new residential projects?
The estimated gross development value (GDV) of the new residential projects is Rs 20,400 crore.
What was the percentage increase in Prestige Estates Projects' consolidated net profit in the first quarter of this fiscal year?
Prestige Estates Projects reported a 26% increase in its consolidated net profit to Rs 292.5 crore in the first quarter of this fiscal year.
What is Prestige Group's target for sales bookings in the current fiscal year?
Prestige Group has set a target of achieving Rs 27,000 crore worth of sales bookings in the current fiscal year.
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